SOMA 463: International Marketing

COURSE DESCRIPTION:

Developing a global marketing strategy is one thing. Making it a practical, successful reality is another. Global Marketing Management builds on Global Marketing Strategy, focusing on the major tactics and tools used by international marketers in managing their global marketing plans. Students will learn how product development, pricing strategies, marketing communications and distribution management all work together to take a marketing strategy from concept to reality and how to adapt to changes in the continually evolving global marketplace.

LEARNING OUTCOMES:

Be able to analyze foreign markets to determine their overall export potential.

Be aware of the various techniques used by modern marketers for segmenting foreign markets in both the consumer and industrial sectors.

Be familiar with the major nations of the world and the management implications of international marketing to/from those countries.

Be aware of the many sources of intercultural conflict or misunderstanding and gain insight into methods of reducing or eliminating these problems.

Be able to explain the various methods of entering foreign markets, the degree of commitment required, and the associated levels of risk.

Be able to identify key sources of foreign market information including primary and secondary research approaches.

Know how international marketers develop pricing strategies for goods sold abroad.

Know how to develop advertising and promotional strategies for global markets.

Understand the basic principles, objectives, and problems in developing international channels of distribution.

Obtain a good understanding of international sales negotiations and the cross-cultural dynamics evidenced in such situations.

COURSE FORMAT/ OBJECTIVE:

Understand how the basic principles of marketing are applied in a variety of diverse cultural, political, legal, and economic environments. Also, appreciate the universal nature of the "Marketing Concept" and understand how customer-oriented marketing managers apply the concept in international markets.